KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia.
IOI Properties Group Bhd
is proposing to acquire Shenton 101, which owns Singapore’s Shenton House, for an aggregate transaction value of about S$217.06mil (RM696.43mil), including shareholder advances.
The acquisition will support the planned redevelopment of Shenton House into a mixed-use office, luxury hotel and retail project, further expanding IOIPG’s presence in Singapore’s Marina Bay precinct.
Separately, IOI Properties has received Bursa Malaysia’s approval to list its proposed RM7.58bil IOIPG Malaysia Real Estate Investment Trust (IOIPG REIT) on the Main Market, comprising 5.5 billion units backed by a portfolio of retail, office and hotel assets.
KKB Engineering Bhd has secured a RM517mil contract from the Malaysian Government through the Regional Corridor Development Authority (RECODA) for the SCORE-Samalaju Water Supply Physical Infrastructure Phase 2 project, with a 36-month completion period.
Northern Solar Holdings Bhd will transfer its listing from Bursa Malaysia’s ACE Market to the Main Market on Oct 6, involving 395.60 million issued shares.
Tien Wah Press Holdings Bhd is proposing to acquire land and buildings in Malang, Indonesia, for RM34.07mil to support the continuity of its subsidiary BPJ’s existing operations and future supply tenders.
Hengyuan Refining Company Bhd has appointed Erkki Tapio Ranta as CEO, effective Oct 1, succeeding Luke Yin Lujiang following the end of his contract.
Ajiya Bhd is disposing of a factory and office property in Puchong, Selangor, for RM58mil as part of efforts to consolidate operations, enhance liquidity and optimise its asset portfolio.
Hextar Capital Bhd’s subsidiary, Legacy Core Sdn Bhd, has secured a RM60mil subcontract for road upgrading works in Sibu, Sarawak, which will run until February 2029.
